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2 years ago

Discuss the income effect for normal and inferior goods

Mathematics

1 answer:

Virty [35]2 years ago

7 0

Answer:

➢ The income effect describes the relationship between an increase in real income and demand for a good. The result of the income effect for a normal good is discernible to that of an inferior good in that a positive income change causes a consumer to buy more of a normal good, but less of an inferior good.

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If we sample from a small finite population without replacement, the binomial distribution should not be used because the event

seropon [69]

Answer:

5/4324 = 0.001156337

Step-by-step explanation:

To better understand the hyper-geometric distribution consider the following example:

There are 100 senators in the US Congress, and suppose 60 of them are republicans so 100 - 60 = 40 are democrats).

We extract a random sample of 30 senators and we want to answer this question:

What is the probability that 10 senators in the sample are republicans (and of course, 30 - 10 = 20 democrats)?

The answer using the h-g distribution is:

$\large \frac{\binom{60}{10}\binom{100-60}{30-10}}{\binom{100}{30}}=\frac{\binom{60}{10}\binom{40}{20}}{\binom{100}{30}}$

Now, imagine there are 56 senators (56 lottery numbers), 6 are republicans (6 winning numbers and 50 losers), we extract a sample of 6 senators (the bettor selects 6 numbers). What is the probability that 4 senators are republicans? (What is the probability that 4 numbers are winners?).

As we see, the situation is exactly the same, but changing the numbers. So the answer would be

$\large \frac{\binom{6}{4}\binom{56-6}{6-4}}{\binom{56}{6}}=\frac{\binom{6}{4}\binom{50}{2}}{\binom{56}{6}}$

Now compute each combination separately:

$\large \binom{6}{4}=\frac{6!}{4!2!}=15\\\\\binom{50}{2}=\frac{50!}{2!48!}=1225\\\\\binom{50}{6}=\frac{50!}{6!44!}=15890700$

and now replace the values:

$\large \frac{\binom{6}{4}\binom{50}{2}}{\binom{56}{6}}=\frac{15*1225}{15890700}=\frac{18375}{15890700}=\frac{5}{4324}$

and that is it.

If the decimal expression is preferred then divide the fractions to get 0.001156337

6 0

3 years ago

Out of the total respondents, the percentage of respondents from the 46–55 age group who rated the film excellent is %. write yo

Mrrafil [7]

Missing data:

Viewer's Age Group Excellent Good Average Poor Marginal Total

16–25 52 42 12 7 113

26–35 33 50 5 9 97

36–45 58 12 28 34 132

46–55 25 17 22 12 76

56 + 12 5 3 8 28

Marginal Total 180 126 70 70 446

A rating of good or excellent indicates the audience liked the movie, while a rating of poor indicates the audience disliked the movie.

<h3>How to determine the rating of the film from the 46–55 age group?</h3>

A movie producer accomplished a survey behind a preview screening of her latest movie to estimate how the film would be accepted by viewers from various age groups. The table displays the numbers of viewers in various age groups who ranked the film excellent, good, average, and poor.

25/446 = 0.05605

0.05605 $*$ 100% = 5.605%

Out of the entire respondents, the percentage of respondents from the 46–55 age group who ranked the film excellent exists at 5.605%.

To learn more about data refer to:

brainly.com/question/4219149

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3 0

1 year ago

Which graph is right?

stira [4]

Answer:

Step-by-step explanation:

A "or equal to" sign always contains a black colored in circle... With it's pointy end pointing at which direction it is being located.

4 0

2 years ago

Please Answer Quick!!

Alexeev081 [22]

Answer:

2 2/3 as an improper fraction is 8/3

8/3 × 1/4 = 2/3

6 0

3 years ago

Write out the following proportions in words. a. 7 :28 = 2 : 8 b. 3⁄1 = 18⁄6 c. 9 : 72 = 2 : 16 d. 81⁄9 = 45⁄5

Lerok [7]

1) Proportion a.

7 : 28 = 2 : 8

That means that the ratio 7 / 28 is equal to the ratio 2 : 8.

You can verify the equality by simplifying to the simplest form:

 7 : 28 = 1 / 4 simplest form
 2 : 8 = 1 / 4 simplest form, then the proportion is right.

In words that is 7 is to 28 as 1 is to 4 ← answer

2) Proportion b.. 3⁄1 = 18⁄6


In words: 3 is to q as 18 is to 6 ← answer


You can verify the proportion by simplifiying the second fraction:


 18 / 6 = [18 / 6] / [ 6 / 6] = 3 / 1


3) Proportion c. 9 : 72 = 2 : 16


In words: 9 is to 72 as 2 is to 16 ← answer


Proove the proportion:


 9 / 72 = 1 / 8


 2 / 16 = 1 / 8


4) Proportion d. 81⁄9 = 45⁄5

In words: 81 is to 9 as 45 is to 5 ← answer

Proove it:
 81 / 9 = 9
 45 / 9 = 9

8 0

3 years ago

Read 2 more answers

Discuss the income effect for normal and inferior goods​

Discuss the income effect for normal and inferior goods